What are some of the specifics of the fraud you wuold like to report?_________________Cedric Kalvesmaki
***Professional Disclaimer***
While I am a Mortgage Professional, this advice is generic in nature only.

What exactly has changed? This may or may not be fraud but a civil issue._________________Cedric Kalvesmaki
***Professional Disclaimer***
While I am a Mortgage Professional, this advice is generic in nature only.

I assume all the paperwork you signed at setttlement had the rate/terms you had agreed on during the processing; right?

Really these are some usefull points you have mentioned.

Why dont you join the mortgagefit community. I think as a member you can help others in a better way.

Adonis_________________Procrastination is the enemy of your financial success

PJGuest

Posted: Tue Oct 17, 2006 3:37 pm Post subject: Scam Question

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Hi, I don't really know much in the way of the mortgage business. I own a web design company which was recently called by a local mortgage company. After a three hour meeting with the "CEO" I find out the guy really just wants me to fill out a "loan officer application". If I do this(and pay $180+$160/yr, he promises to bring me business...200 clients supposedly..Now this all sounds pretty shady to me so I'm asking you guys: Does this seem like some sort of scam or fraud common in loan companies?

Derrick JensenGuest

Posted: Tue Oct 17, 2006 4:01 pm Post subject:

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To become a mortgage loan officer one needs to get proper training. You just cannot become a loan officer suddenly.

I do not know why that mortgage company approached you for this purpose, as you are from a web designing background. There are many such companies who would try such measures to boost there own financial interest. Also the loan officers work for lending institutions and help to bring business for the company.

PJGuest

Posted: Tue Oct 17, 2006 4:15 pm Post subject:

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Thanks, I figured something didn't smell right about this. I've heard of companies collecting info to take out bogus loans. I am in Nevada and many here are not straight forward. They gave me a whole packet of applications. One for a mortgage agent license, a disclosure form, and a couple of independent contracts also concerning commissions granted for loan refferal. Also the guy who claims to be the CEO isn't on the list of officers posted on the Secretary of State site...

Derrick JensenGuest

Posted: Tue Oct 17, 2006 4:29 pm Post subject:

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I thought so that it might be something like this only. Good of you to inquire before signing on anything.

AudreyGuest

Posted: Tue Oct 17, 2006 10:20 pm Post subject:

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It's a strange offer indeed. May be the mortgage company has some plans which they are right now concealing from you. It's better to stay away from such a deal.

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